Senator Heineken Lokpobiri , minister of State for Petroleum Resources (Oil), at the weekend said the federal government would deploy new technologies like drones and satellite surveillance to halt massive oil theft in the Niger Delta.

Lokpobiri also called for greater commitment from industry players to Nigeria’s ambitious plan to increase crude oil production by over one million barrels per day within the next 24 months, saying the federal government was ready to host the headquarters of the $5 billion Africa Energy Bank (AEB), following the country’s successful bid in July 2024.

Addressing a gathering of the Oil Producers Trade Section (OPTS), a group of oil firms operating in Nigeria, at the Cross Industry Group (CIG) meeting in Istanbul, Turkey, at the weekend, Lokpobiri also restated that oil field bid winners must explore or relinquish them.

Nneamaka Okafor, minister’s spokesperson, said in a statement that Lokpobiri’s remarks were part of a strategic plan to navigate the challenges and opportunities in Nigeria’s petroleum industry presented to the producers.

Underscoring the sector’s central role in Nigeria’s economy, which the minister said provides around 85 per cent of government revenue as well as serves as a vital source of foreign exchange, the minister said there was the need for the oil sector to remain resilient.

He acknowledged the persistent security challenges in the Niger Delta but reported ongoing efforts to protect Nigeria’s oil infrastructure through enhanced security measures.

Aside from engaging communities and encouraging partnerships to foster local ownership of critical assets, Lokpobiri stated that other efforts include increased military support, particularly from the Nigerian Navy and the Joint Task Force (JTF).

“The government has also implemented technology-driven solutions, including drone and satellite surveillance to enhance the security framework and detect potential threats to the industry,” the minister said.

The minister outlined Nigeria’s dual approach to energy transition to ensure the future of its petroleum industry by focusing on maximising crude oil production and adapting to a cleaner energy transition.

“In the short-term, our focus remains on increasing revenue from crude oil production,” Lokpobiri stated.

He stressed that the government recognised the urgency of cost reduction, highlighting the government’s measures aimed at streamlining operations, particularly upstream activities, to remain competitive in the global market.

The minister said: “The world is moving toward cleaner energy, and Nigeria must be part of that transition. The government has prioritised natural gas as a cleaner alternative while actively exploring renewable energy options to diversify Nigeria’s energy mix.”

He listed part of the bouquet of reforms and incentives to revitalise Nigeria’s oil and gas sector as the Value Added Tax (VAT) modification order 2024 and the tax incentives order for deep offshore oil and gas production.

Lokpobiri told the gathering that the Nigerian government was focused on reducing contracting costs and timelines and has therefore mandated that the procurement cycle be streamlined to six months.

In addition, he highlighted the government’s commitment to the Nigerian Oil and Gas Industry Content Development (NOGICD) Act, which promotes local content.

The minister emphasised that the government’s recent initiative to launch bid rounds for 31 oil and gas blocks will be a cornerstone of Nigeria’s strategic development.

“Each block has been meticulously selected for its potential to boost reserves and stimulate economic growth. In line with international best practices, barriers to entry have been reduced through signature bonuses to attract a wider range of investors, with strict enforcement of Nigeria’s ‘drill or drop’ policy,” he added.

Lokpobiri called for greater commitment from industry players to support Nigeria’s ambitious plan to increase oil production by over 1 million barrels per day within the next 24 months.

“We cannot afford to hold valuable fields in perpetuity. It’s either you put them to work or relinquish them. The era of renewing licenses without development is over,” he reiterated.

Operatives of the Nigeria Police Force have arrested no fewer than 130 suspects for “high-level” cybercrimes.

Among the suspects are 113 foreign nationals, comprising 87 males and 26 females from China and Malaysia.

A statement on Sunday Muyiwa Adejobi, Force Spokesperson, added that 17 of the suspects are Nigerians.

He said the suspects were arrested at a building at the Next Cash and Carry area in the Jahi area of the Federal Capital Territory.

Adejobi said the suspects were reportedly using computers and other sophisticated devices to facilitate criminal activities.

Adejobi said, “The Nigeria Police Force has arrested 130 suspects comprising 113 foreign nationals (87 males and 26 females), primarily of Chinese and Malaysian origin, and their 17 Nigerian collaborators (4 males and 13 females) for their alleged involvement in high-level cybercrimes, hacking, and activities that threaten national security.

“This strategic operation was conducted through a coordinated raid on a building at the Next Cash and Carry area of Jahi, Abuja, where the suspects were reportedly using computers and other sophisticated devices to facilitate criminal activities.

“The operation which was led by the Assistant Inspector-General of Police for Zone 7 Headquarters, Abuja, AIG Benneth Igweh, on Saturday, 3rd November 2024, comprised officers of the Nigeria Police Force Zone 7 Command Abuja and the National Cyber Crime Centre (NPF-NCCC).”

Adejobi states that the police were analysing the exhibits recovered from the suspects.

He said, “We are investigating the matter and scientifically analysing the exhibits recovered from them.

“The suspects will be charged in court upon the conclusion of our investigations.

“We will update the public on the outcomes of our investigations as and when due.”

The Gothenburg Print Professionals Association of Nigeria (GUPPAN) has called for an urgent intervention in Nigeria’s printing sector, adding that the country is losing estimated N1 trillion in revenue.

Addressing a press conference in Abuja, Adekinle Adebambo, president of GUPPAN, said the situation has even worsened as all the three major printing press in the country have become moribund.

“As we speak today, the problem of the printing industry requires urgent national intervention because on an average, we are losing a revenue of about N1 trillion as a result of our inability to revive our printing sector which would have generated revenue,  create jobs and attract investments.

“If addressed and revitalised, we can stop the constant importation of books and other printed materials as our research shows that we spend over N200 billion annually to import books and other printed materials.

“Today, when you go to the airports, you will see cargoes bringing in books; in the seaport same thing. This needs to stop and it starts with efforts to revitalize large printing presses,” he said.

He advised the federal government to come up with a national policy on printing  “where it will address core issues such as standardisation and technological investment, because if every student in secondary school buys nine books and we have 250,000 students in each local government, the policy will drive huge investments and job creation.”